India just one spot up in ‘ease of doing business’ ranking 2017

India has moved up by only one rank to the 130th spot out of 190 countries, from last year in the World Bank’s ‘ease of doing business’ ranking 2017. Even the one rank improvement is because India had been downgraded in the 2016 edition to 131st from 130th earlier.

Narendra Modi-led Indian Government made a host of changes in the business environment of the nation while aiming to break into the top 50.

The World Bank report, however, recognized the concerted efforts made by India, and set aside a special section “India has embarked on an ambitious reform path” to list the developments.

The country has embarked on a fast-paced reform path, and the Doing Business 2017 report acknowledges a number of substantial improvements,” the report said, mentioning electricity connections to businesses, paying taxes, electronic system for paying employee state insurance contributions, electronic filing of integrated customs declarations, the Companies (Amendment) Act, passage of the commercial courts and the Insolvency and Bankruptcy Code.

According to the World Bank report, a record 137 economies around the world have adopted key reforms that make it easier to start and operate small and medium-sized businesses.